Mar 4, 2009

Wednesday's trades

Couple of FU setups that went my way (one more than the other). 

Went long off a break of the 10am bar high. I was a little hesitant for some reason and thought I would get stopped out. But price ended up going my way and I exited all my shares just below the fib. ext.

I actually saw a nice formation on the 5-min chart but couldn't find any of my 3 setups to enter. I flipped to a faster timeframe (3-min) and saw a good FU entry at the ORH. Entered long off a break of the 10:36 bar high (but I was late so I let the order slip a bit). Thought I would hit the fib. ext. early on but price fell back down. Had to step out of the apartment and ended up getting stopped out on a revised stop. Still a decent profit as I scaled out at 33.13.


Anonymous said...

How is BBL F-U setup? Don't see any shooting star as you mentioned in the setup?

OONR7 said...

anon: The bar prior to entry found hard resistance at the ORH. The next bar (my entry bar) closed strong and above the ORH. That's a classic F-U.
As for the shooting star... I never mentioned that.